First Metro Investment vs Sterling Bank: Home Loan Overview
First Metro Investment Corporation (FMIC) is the investment banking arm of the Metrobank Group, primarily known for capital markets, securities, and corporate finance. Its home loan and mortgage products are less prominently marketed than those of large retail banks, and are typically positioned for higher-net-worth borrowers or those already within the Metrobank ecosystem. Sterling Bank of Asia, on the other hand, is a smaller thrift bank that offers retail mortgage products, often appealing to borrowers who may not qualify easily at the big universal banks.
For most Filipino homeowners looking to refinance, both institutions represent narrower options compared to the broad market. If you are currently paying 7% to 10% interest on your existing home loan, exploring the full range of lenders — including those accessible through a detailed Sterling Bank rate comparison — is essential before committing to any single bank.
Interest Rate Comparison
| Feature | First Metro Investment | Sterling Bank |
|---|---|---|
| Typical Fixed Rate (1-year) | ~7.50% – 9.00% p.a. | ~7.25% – 9.50% p.a. |
| Typical Fixed Rate (3-year) | ~7.75% – 9.25% p.a. | ~7.50% – 9.75% p.a. |
| Typical Fixed Rate (5-year) | ~8.00% – 9.50% p.a. | ~7.75% – 10.00% p.a. |
| Variable / Repricing Rate | Market-linked, varies | Market-linked, varies |
| Best Rate via Nook | 5.99% p.a. | |
These are indicative ranges based on market data. Actual rates depend on loan amount, term, collateral, and borrower profile. The critical takeaway: both banks sit comfortably above the 5.99% p.a. benchmark available through Nook's multi-bank comparison platform.
Monthly Repayment Comparison: ₱3,000,000 Loan Over 20 Years
| Interest Rate | Monthly Payment | Total Repaid | Total Interest Paid |
|---|---|---|---|
| 5.99% p.a. (Nook best rate) | 21,494 | 5,158,560 | 2,158,560 |
| 7.50% p.a. (FMIC low estimate) | 24,168 | 5,800,320 | 2,800,320 |
| 8.50% p.a. (mid-range) | 26,035 | 6,248,400 | 3,248,400 |
| 9.50% p.a. (Sterling high estimate) | 27,964 | 6,711,360 | 3,711,360 |
On a ₱3,000,000 loan, the difference between 5.99% and 9.50% amounts to over 1,552,800 in total interest. Even moving from 8.50% to 5.99% saves you more than 1,089,840 over the life of the loan — a compelling reason to refinance.
Fees and Charges
| Fee Type | First Metro Investment | Sterling Bank |
|---|---|---|
| Processing Fee | Varies; typically ₱5,000 – ₱10,000 or a % of loan | Varies; typically ₱3,000 – ₱8,000 |
| Appraisal Fee | ₱3,500 – ₱6,000 (third-party) | ₱3,000 – ₱5,500 (third-party) |
| Notarial & Legal Fees | Applicable | Applicable |
| Early Repayment Penalty | Typically applies within lock-in period | Typically applies within lock-in period |
| Mortgage Redemption Insurance | Required | Required |
| Nook Service Fee | Free (₱0) | |
Always request a full schedule of charges from any bank before signing. Hidden fees and penalty clauses can significantly affect your effective cost of borrowing.
Loan Features and Eligibility
| Feature | First Metro Investment | Sterling Bank |
|---|---|---|
| Minimum Loan Amount | ~₱1,000,000 (varies) | ~₱500,000 – ₱1,000,000 |
| Maximum Loan Amount | Up to 70%–80% of appraised value | Up to 70%–80% of appraised value |
| Loan Term | Up to 20 years | Up to 20–25 years |
| Target Borrower | Higher-income, Metrobank ecosystem | Broad retail, including self-employed |
| Self-Employed Accepted | Case-by-case | Generally yes |
| OFW Applications | Limited | Generally accepted |
Sterling Bank's thrift bank structure may make it slightly more accessible for borrowers with non-traditional income documentation, while First Metro Investment tends to cater to established professionals and business owners. For a broader look at how smaller banks compare, see our guide on GoTyme vs SB Finance home loan rates.
Refinancing Suitability
If you currently hold a home loan with either First Metro Investment or Sterling Bank — or are being quoted by them for a refinance — it is worth understanding their limitations:
- First Metro Investment is not a primary retail mortgage lender. Its home loan products are not widely advertised and may not offer the competitive pricing of high-volume retail mortgage banks.
- Sterling Bank is a smaller thrift bank with a limited branch network, which may affect your access to relationship managers and post-approval service.
- Neither bank has the volume or pricing power of the major universal banks (BDO, BPI, Metrobank, Security Bank) or the digital-first lenders now entering the market.
The most effective way to refinance is to compare across the widest possible range of lenders simultaneously — which is exactly what Nook does, at no cost to you.
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Compare My Options →Frequently Asked Questions
Is First Metro Investment a good bank for home loan refinancing?
First Metro Investment Corporation (FMIC) is primarily an investment bank, not a retail mortgage lender. While it does offer mortgage-related products, it is not widely known for competitive home loan refinancing rates. For most borrowers, comparing rates across multiple retail banks — including those with dedicated home loan divisions — will yield better outcomes. Nook can help you do this for free.
What is Sterling Bank's home loan interest rate in the Philippines?
Sterling Bank of Asia typically offers home loan interest rates ranging from approximately 7.25% to 10.00% p.a., depending on the fixing period, loan amount, and borrower profile. These rates are subject to change and may be higher than what you can access through a multi-lender comparison platform like Nook, where the best available rate is currently 5.99% p.a.
How much can I save by refinancing away from Sterling Bank?
If you have a ₱3,000,000 home loan at Sterling Bank at 9.00% p.a. and refinance to 5.99% p.a. through Nook, you could save approximately 1,200,000 to 1,400,000 in total interest over a 20-year term. Your exact savings depend on your remaining balance, current rate, and new loan term. Use Nook's free calculator to get a personalized estimate.
Can I refinance from First Metro Investment to another bank?
Yes. If you have an existing home loan with First Metro Investment, you can refinance to any other bank that accepts your property as collateral. The process involves applying for a new loan with the new lender, which pays off your existing balance. Nook can help you find the best rate across multiple banks and manage the process at no cost to you.
What documents do I need to refinance my home loan in the Philippines?
Typical requirements for home loan refinancing include: valid government-issued ID, latest income tax return (ITR), certificate of employment or business registration documents, last 3–6 months of payslips or bank statements, Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), tax declaration and real estate tax receipts, and a copy of your current loan statement. Nook's team will guide you through exactly what each lender requires.
How does Nook compare home loans for free?
Nook is the Philippines' first digital mortgage broker. You submit your details once, and Nook matches you with the best available home loan rates from its panel of partner banks. Nook is paid by the bank that wins your business — not by you. There is no fee, no obligation, and no impact on your credit score just to compare.
Is Sterling Bank accredited by Bangko Sentral ng Pilipinas (BSP)?
Yes, Sterling Bank of Asia is a BSP-regulated thrift bank. This means your deposits are covered by the Philippine Deposit Insurance Corporation (PDIC) up to the insured limit, and the bank must comply with BSP lending and disclosure regulations. However, BSP regulation does not guarantee competitive rates — comparing across lenders is still essential.